JPMorgan Chase & Co CEO Jamie Dimon said his bank reacted badly to warning flags last month that it had large losses in financial derivatives trading, a $2 billion embarrassment that has given banking regulators new ammunition.
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JPMorgan Chase & Co, the biggest US bank by assets, said it suffered a trading loss of at least $2 billion from a failed hedging strategy, a shock disclosure that hit financial stocks and the reputation of the bank and its CEO, Jamie Dimon.